The 25-year-old Brazilian was involved in an accident in the city of Donetsk on Saturday morning. No further details of the crash have been revealed.
"FC Shakhtar regretfully informs that on February 8, 2014 the life of a footballer Maicon Pereira de Oliveira tragically ended. He died in a car crash in Donetsk," a club statement read.
"He was a talented footballer, an open and friendly guy. Maicon loved life and knew how to make it positive and bright.
"(His) tragic, untimely and absurd death took away a wonderful person from our ranks. Maicon was only 25 years old.
"It is a terrible bereavement for each of us. FC Shakhtar expresses condolences and sympathy to Maicon's family and friends. May he rest in peace."
After playing in the youth ranks at both Fluminense and Flamengo in his homeland, Maicon came to prominence after moving to Ukraine in 2009 to join Volyn Lutsk, for whom he scored 37 goals in 65 appearances.
He also scored three goals in eight games on loan at Romanian side Steaua Bucharest, before sealing a move to Ukrainian champions Shakhtar in 2012.
Maicon found his opportunities limited in Donetsk, however, and at the time of his death was on a season-long loan at fellow Ukrainian outfit Illichivets Mariupol.